Cramer pointed to KeyCorp as one such company that needs money and warned investors to stay away from its secondary. He’s worried about the potential for follow-on dilution even after the offering takes place.

However, PNC Financial Services Group should be bought, he said, because the company is in much better shape. PNC is not desperate for the cash in the way that KEY might be.

Bank of New York Mellon is the only bank that didn’t need money but is trading below its secondary offering price that Cramer likes, he said. While he could recommend Capital One Financial , headline risk makes buying the stock iffy, especially with President Obama calling for Congress to send him new credit-card legislation.

Elsewhere in the market, restaurants are “making a comeback,” Cramer said. He endorsed McDonald’s as his favorite, as well as Yum! Brands and Buffalo Wild Wings .

Watch the video for Cramer’s take on upcoming IPOs, retail, tech and Nordic American Tanker’s “unfairly criticized” CEO.